2023 Fiscal Year Final Research Report
Political Economy of Fiscal Rules
Project/Area Number |
21K01539
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Multi-year Fund |
Section | 一般 |
Review Section |
Basic Section 07050:Public economics and labor economics-related
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Research Institution | Osaka University |
Principal Investigator |
Ono Tetsuo 大阪大学, 大学院経済学研究科, 教授 (50305661)
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Co-Investigator(Kenkyū-buntansha) |
荒渡 良 同志社大学, 経済学部, 准教授 (20547335)
内田 雄貴 成蹊大学, 経済学部, 准教授 (30805495)
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Project Period (FY) |
2021-04-01 – 2024-03-31
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Keywords | 政治経済学 / 世代重複モデル / 財政ルール / 年金 / 教育 |
Outline of Final Research Achievements |
The findings of this study can be summarized in the following four points. Firstly, it demonstrates that implementing a debt ceiling may prompt the government to transfer the tax burden from the elderly to the young, while also encouraging the accumulation of physical capital, boosting public education expenditure, and consequently enhancing the growth rate. Secondly, our analysis indicates that the anticipated aging of the population is likely to lead to Japan experiencing a higher labor income tax rate, an elevated public debt-to-GDP ratio, and a reduced government expenditure-to-GDP ratio compared to the United States. Thirdly, we observe instances of government rule-breaking when households with present-biased preferences influence fiscal policy formation through voting. Lastly, our findings suggest that countries with a weak degree of present bias may have limited motivation to adhere to coordinated rules.
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Free Research Field |
政治経済学
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Academic Significance and Societal Importance of the Research Achievements |
本研究課題は、財政政策と経済成長の関係に関する重要な洞察を提供した.特に,財政政策の形成に影響を与える要因や,高齢化社会における財政政策の影響に焦点を当てている.この研究により,政府が負担を若年層から高齢者へ移すことで,経済成長を促進できる可能性が示唆された.また,高齢化が将来の経済政策に与える影響に関する分析は,将来の政策形成に関する重要な示唆を提供する.本研究から得られた結果は、将来の財政政策の設計や高齢化社会への適切な対応を考える上で、学術的な価値と社会的な意義を持ち得る.
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